• 2020 September 24 08:40

    MABUX: Bunker market this morning, Sept 24

    The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

    MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) demonstrated slight irregular changes on September 23:

    380 HSFO: USD/MT 293.60 (+0.16)
    VLSFO: USD/MT 339.00 (+1.00)
    MGO: USD/MT 406.29 (-0.47)


    Meantime, world oil indexes rose on Sep.23 after the Energy Information Administration reported an oil inventory draw.

    Brent for November settlement increased by $0.05 to $41.77 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for November rose by $0.13 to $39.93 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $1.84 to WTI. Gasoil for October delivery added $3.50.

    Today morning oil indexes decline on concerns the economic recovery in the United States, the world's biggest oil consumer, is slowing as the coronavirus outbreak lingers and a resurgence in European cases led to new travel restrictions there.

    According to government data, oil stockpiles declined last week, but less than expected - by 1.6 million barrels. It was expected a draw of 2.3 million barrels. Seven of the previous eight weeks had seen falling inventory. The data came a day after the American Petroleum reported a sizeable decline in gasoline stocks, coupled with a modest build in crude oil stocks. In gasoline, the EIA estimated an inventory draw of 4 million barrels for the week to September 18, compared with a decline of 400,000 barrels for the previous week. This also supported the prices. Crude stored at Cushing, Oklahoma, rose by 4,000 barrels.

    Still, fuel demand in the U.S. remains subdued as the coronavirus pandemic limits travel. The four-week average of gasoline demand was 8.5 million barrels per day last week, the government data showed, down 9% from a year earlier. Moreover U.S. business activity slowed in September, U.S. Federal Reserve officials flagged concerns about a stalling recovery, and Britain and Germany imposed restrictions to stem new coronavirus infections.

    The EIA also said the OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of next year, resulting in a relatively balanced market by the end of 2021. The OPEC+ deal and the production drops elsewhere, most of all in North America, have brought global supply below the level of demand for the first time since the middle of 2019, the EIA estimated, noting that the supply deficit has helped bloated global inventories to decline since June.

    At the same time, while some say that global inventories are declining and will continue to draw down through the rest of the year, others have flagged faltering demand recovery and resurging COVID-19 cases as reasons for being careful about the outlook on inventory drawdowns in the coming months.

    On the supply side, the market remains wary of a resumption of exports from Libya, although it is unclear how quickly it can ramp up volumes. Libya's National Oil Corp (NOC) seeks to boost output to 260,000 bpd by next week. NOC reopened another port, the third to resume operation in less than a week, as a political truce takes hold in the OPEC member’s devastating civil war. The NOC allowed exports to resume days earlier from the Hariga and Brega terminals. The three ports had been shut down since January as part of a wider blockade. Es Sider and Ras Lanuf, the country’s largest and third-largest oil ports, remain closed, as does the Zawiya terminal, which ordinarily exports crude from the country’s biggest field, Sharara.

    We expect bunker prices may demonstrate slight upward changes today: 1-3 USD up for IFO and 1-3 USD up for MGO




2020 October 24

15:47 Ocean transport of the first lot of railway coach to Myanmar completed
14:51 OOCL announces services changes and enhancements on Asia-Europe trade
13:28 Port Authority launches new campaign against litter
12:41 Hapag-Lloyd announces Ocean Tariff rates on East Asia - NEC and Mediterranean trade
11:06 CSD Hussein Tantawy successfully launched at IHC's shipyard in The Netherlands

2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges
15:03 ABS and TCOMS join forces to research next generation marine & offshore and maritime solutions
14:44 Floating nuclear power plant covers over 50% of electric energy demand in Chukotka
14:20 The average value of the Ningbo Container Freight index 1 in October increases by 1.2%
14:20 MPA-SSG-WSG joint media release: 1000 traineeships, company attachments and training opportunities for more Singaporeans to join maritime sector
14:03 Global Ports Holding signs sale and purchase agreement for Port Akdeniz
13:57 Port of HaminaKotka specifies minimum requirements for berthing and unberthing services
13:25 Rosmorport's Murmansk Branch performed pilotage of Sedov barque
13:01 Container throughput of Chinese ports still decease slightly in January - September 2020
12:52 Zhigalovo Shipyard lays down fifth ship of Project 3052 for Rechvodput
12:26 MPA-ABS MoU to advance R&D activities in maritime Singapore
12:13 Multi-million-euro project transforms CO2 into green raw material in North Sea Port
11:56 Private investments in infrastructure of Arkhangelsk port totaled RUB 25 billion in 7 years
11:18 Port of Long Beach posts results for in September 2020
11:11 Russian President Vladimir Putin signs order on merging Sevmorzavod into USC
10:07 ZIM offers new service to the UAE
09:58 Sea Port of Saint-Petersburg expands its cargo space
09:36 Oil prices continue decreasing in response to growing US reserves
09:19 Baltic Dry Index as of October 21
09:05 The Grimaldi Group takes delivery of the Eco Valencia and Grande Florida
09:03 MABUX: Bunker market this morning, Oct 22
08:52 MSC Cruises to implement next-generation air sanitation system developed by Fincantieri for the cruise industry